Online Trading India

Mutual Funds

Share Market

Credit Card

Sensex, Nifty Trimmed Off Intraday Gains to End Flat. Here Is What We Could Expect Off RBI

Indian benchmark indices ended yesterday’s, 14th June 2017 volatile session on a flat note even as investors await current account data and the US Federal Reserve’s two-day rate-setting meeting, which will begin later tonight. BSE Sensex closed 7.79 points or 0.03% higher at 31,103.49 points, while NSE Nifty, the broader gauge, closed 9.5 points or 0.01% lower at 9,606.90 points.

Among BSE sectoral indices, power index gained the most by 0.78 percent, followed by Realty 0.75 per cent, infrastructure 0.55 per cent and consumer durables 0.33 per cent. On the other hand, IT index was down 1.00 percent, metal 0.83 per cent and auto 0.44 per cent.

Inflation numbers released yesterday show that India’s consumer inflation dipped to a five-year low in May on account of dropping food prices, Inflation is now well below the Reserve Bank of India’s (RBI) medium-term target of 4%, and at the lower end of its CPI projection of 2%-3.5% in the first half of the fiscal year.

April IIP growth slipped to a disappointing 3.1 percent in April, well below the revised 3.8 percent figure for March, raising hopes that the Reserve Bank of India may cut interest rates to boost the struggling industrial sector.

Major gainers on Sensex were PowerGrid up 1.94%, Lupin up 1.73%, HDFC up 1.52%, NTPC up 1.27% and Adani Ports up 0.67%, while the major losers were Tata Motors down 1.51%, TCS down 1.47%, Wipro down 1.44%, Hero MotoCorp down 0.65% and M&M down 0.65%.